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Mariela De Jesús
Mariela is 63 years old, mother to 5 children and the head of the household since the death of her husband. Approximately 8 years ago she set up her own business, a corn cake factory which began as a result of the economic crisis suffered by her family after the death of her husband. Gradually it has gone from strength to strength, yet she never studied and everything that she knows today is a result of trial and error. She worked Monday to Sunday from 5 am to 4 pm, so that she could take advantage of the time to meet the orders of all her clients. She is requesting this loan as help in order to expand her business. She plans to adapt and expand the storeroom, expand the ovens, purchase an electric mill and purchase raw material (corn) and supplies for packaging. As a result of these, she will be able to improve working conditions and will be able to meet order deliveries in a timely manner, which will give her the opportunity to expand her market and increase her sales and income. Mariela dreams of growing her business and turning it into a large manufacturer and distributor of corn cakes which generates higher returns, giving her the possibility of supporting her children financially and enjoying a better quality of life.
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Mariela, con 63 años de edad, es madre de 5 hijos y cabeza de hogar desde que su esposo falleció. Hace aproximadamente 8 años inició su negocio, una fábrica de arepas que comenzó por la crisis económica que sufrió su familia luego del fallecimiento de su esposo. Poco a poco ha salido adelante pues nunca estudió y todo lo que hoy en día sabe ha sido obtenido por el método de prueba/error, ella trabaja de Lunes a Domingo de 5:00 am a 4:00 pm, con el fin de aprovechar el tiempo al máximo para sacar toda la producción que sus clientes le encargan. Solicita el crédito como apoyo para ampliar su negocio para lo que requiere adecuar y ampliar la bodega, ampliar los hornos, comprar un molino eléctrico y materia prima (maíz) e insumos para empaque, de esta forma podrá mejorar las condiciones de trabajo y podrá cumplir con las entregas de los pedidos de manera oportuna, lo que le dará la oportunidad de ampliar su mercado y aumentar sus ventas y sus ingresos. Mariela sueña con hacer crecer su negocio y convertirlo en una gran empresa productora y distribuidora de arepas que le genere mayor rentabilidad para tener la posibilidad de apoyar a sus hijos económicamente y disfrutar de una mejor calidad de vida y progreso.

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.

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About Colombia

  • $6,070
    Average annual income
  • 522
    View loans »
    Colombia Loans Fundraising
  • $14,666,500
    Funds lent in using Kiva
  • 1,916.0
    Colombia Pesos (COP) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $1,575 helped Mariela De Jesús to adapt and expand the storeroom, expand the ovens, purchase an electric mill and raw material (corn) and supplies for packaging.
83% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 29, 2013
Listed
Sep 29, 2013
Currency Exchange Loss:
Covered